Homeowners insurance protects the property and belongings of those who own a house, but what about those who rent? As a tenant, you do not have a house to protect, but your possessions are also vulnerable to theft and damage. This is why renters insurance is a valuable investment. Robert Taylor Insurance provides Lorain, OH, residents with a variety of insurance policies to make sure all aspects of life are sufficiently covered.

Some landlords or management companies make renters insurance mandatory when you rent with them. However, even if your current place does not require renters insurance, Robert Taylor Insurance recommends all tenants acquire a policy to protect their belongings. These insurance agents offer some important information about why you should consider renters insurance:

• What Does Renters Insurance Cover? Like home insurance, renters insurance will typically cover loss and damages to the tenant’s items that occur as a result of theft, vandalism, utility malfunctions, storms, and fire. There is also a common misconception that if someone gets injured on a tenant’s property, it will be covered by the landlord’s insurance. However, that is not always the case, and the only way to ensure protection is with an individual renters insurance policy.
• Why Do You Need Renters Insurance? Renters insurance is beneficial for those who know they won’t be able to afford to replace their belongings in the event of a disaster. Not only will it cover the replacement costs, but it will also provide for living arrangements if your residence is inhabitable. In addition, if you are held liable for another’s injury on your property, it will cover their medical expenses and other bills.
• How Much Coverage Is Necessary? The amount of coverage you will need depends on the value of your possessions. Before deciding on a policy, take inventory of everything you own and get an estimate of value to make certain it sufficiently covers your items.

Renters insurance can save you a lot of money, time, and hassle. Contact Robert Taylor Insurance at (440) 277-5191 for help selecting a policy, or visit their website for more information on the other types of coverage offered.